HCG update

It has taken a fortnight – that is 14 nights in case you grew up on this side of the pond –, a long time if you are waiting for it but here we are. It appears that we completed an A-B-C correction down right into our target of below $13. (see our previous blog). Not only did we do that but we hit the 50-day moving average and we are ending today with a beautiful Japanese candlestick formation known as a Doji, in this case a Hammer. This is supposed to announce a reversal! If you bought at $13 your patience is already rewarded but things should get a lot better in the next little while. Just back to where we were a fortnight ago generates a return of roughly 50% but we would expect higher prices than that.